Buy Now, Pay Later (Klarna, Tym-it, Clearpay)

Awh I want to know why mine doesn’t work :frowning: I’ve even completely cancelled the DD and re-set up several times but they just never collect it.

Daft question but have you actually set it up from the PayPal credit section and not just the normal PayPal side of the business :thinking:

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I’m a big fan of PayPal credit. Anything I buy over £99 sits in my savings account for an extra 4 months to earn me a few extra pennies, costing me nothing. Or in events where interest free instalments are an option, it stays in my savings even longer.

I’m also never temporarily out of pocket for things I might need to return. And because I checked out with PayPal, they cover any P&P where the retailer won’t.

They always seem to collect it a couple days after you schedule it online

Does ‘Paypal’ show in your direct debits?

Yeah I did, I even reached out to monzo to check the DD was set up fine, PayPal Credit just never sent the monthly instruction to collect.

I don’t mind paying by card, tends to encourage me to pay it off quicker :slight_smile:

Are you sure it’s not because you’ve manually paid it by card and not left it long enough to automatically collect?

Yeah I’ve left it for several months before, it just doesn’t get collected. I get an email each month saying the PayPal credit payment is scheduled. PayPal don’t even mark the payment as late/missing.

I basically just get charged interest without having to make any payments because they don’t collect it.

You can already find interest free or very low interest credit agreements with a lot of stores for larger purchases. You also have interest free credit cards, which aren’t hard to get hold of.

Consumer credit is an extremely competitive market so I’m not sure where Monzo fit into it. They seem to be a cautious lender with relatively high interest so even if they offered it, it probably wouldn’t be your best option.

I’m not often a fan of these because they’re a proprietary offer, limited only to that retailer. PayPal credit is available by default anywhere PayPal is accepted, by default, which is why I prefer it. Klarna is becoming more common too.

It annoys me big time, that Argos go out of their way to refuse PayPal credit customer so they can push their own product.

How so? I’ve used Paypal Credit with Argos loads of times? It’s pretty straighforward

Wait. Argos let you use PayPal credit now?

Last time I tried shopping with Argos and checked out with PayPal, PayPal credit was conveniently missing from the list of payment options, even on their eBay store too.

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Oh strange, definitely there, just tried it with a nest thermostat, didn’t complete the order but it was 100% there

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Awesome! Just tried it myself and it’s there now! Thanks!

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It’s new within the past couple of months, I’ve got a Argos card so just use that to be fair but did notice PayPal accepted an all

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Same, store credit isn’t something I’d use either. For me I just pay for stuff upfront (well, on an AMEX payed off monthly), if I needed to borrow for it (unlikely tbh) it would be the 0% credit card.

I’ve never used paypal credit but then I’ve never struggled to get hold of the 0% credit cards which I guess are the same deal in a way.

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Klarna wasn’t something I’d heard of but google use it for the pixel 5 with 0% interest.

No brainer really, since you can pay it of as needed… Normally I use things like 0% for big purchases where paying the lot at once would probably mean pushing it onto the credit card anyway.

Even if user charged no fees, Klarna still makes money, because they send the full amount to the merchant straight away and in return merchant pays Klarna a fee.

It’s similar to how businesses can sell their invoices that are not yet due for payment to receive cash quicker. It is common in B2B with like 30, 60, 90 days payment terms.

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